Network auction scheme, winning bid determining scheme, apparatus therefor, and recording medium having their programs recorded thereon
US7401047B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 26, 2001 |
| Grant date | Jul 15, 2008 |
| Priority date | — |
| Expiry date | Aug 5, 2025 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
To prevent a single bidder from profiting by submitting multiple false-name bids, an auctioneer: sets a threshold price r; determines the ranking i of the minimum value equal to or larger than r in a buyers' evaluation value sequence sorted in decreasing order and the ranking j of the maximum value equal to or smaller than r in a sellers' evaluation value sequence sorted in increasing order; if i=j, allows first to i-th buyers and sellers to trade at the price r; if i>j, allows first to j-th buyers and sellers to trade at a trade price of the (j+1)-th buyer's evaluation value for the buyers and at the threshold price r for the sellers; and if i<j, allows the first to i-th buyers and sellers to trade at the threshold price for the buyers and at a trade price of the (i+1)-th seller's evaluation value.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.